President Donald Trump is willing to ease sanctions on Iran and release frozen Iranian funds in exchange for "concrete progress" on Tehran's nuclear program, a White House official told CNN Monday, keeping the door open to a deal days after rejecting Iran's latest proposal.
Prediction market traders are becoming more optimistic. Polymarket now gives a final U.S.-Iran nuclear deal by Dec. 31 a 15% chance, up from 10% on Saturday. The wider market has attracted nearly $18.9 million in trading volume.
Trump Says Iran 'Overplayed Their Hand'
"They want to make a deal, but it is not the deal that I want to make," Trump said. "It is what we would have maybe agreed to a year ago. They overplayed their hand."
The comments came as Qatar and other regional mediators continued trying to narrow the gap between Washington and Tehran. U.S. envoys Steve Witkoff and Jared Kushner held indirect talks with Iranian Foreign Minister Abbas Araghchi in New York last week, with Qatari officials carrying messages between the two sides.
A White House official told CNN Monday that those discussions have been "positive and constructive," adding that Iran has shown flexibility on nuclear issues.
But the sides remain divided over what happens first.
Iran is seeking sanctions relief, access to frozen assets and an easing of U.S. pressure before making its biggest concessions. The Trump administration says there will be no agreement unless Tehran first makes concrete progress on its nuclear program.
Iran Wants Relief Up Front
U.S. Ambassador to the United Nations Mike Waltz said Sunday that Iran was asking for "everything up front with a promise that they would then talk."
Tehran wants relief from billions of dollars in sanctions and access to frozen assets, Waltz said, adding that Trump was not confident Iran would negotiate in good faith.
Trump rejected Iran's seven-day proposal Saturday. Iran had offered to reopen the Strait of Hormuz and restart nuclear negotiations within a week if Washington lifted its naval blockade, removed sanctions on oil sales and restored a regional ceasefire.
Traders Doubt a Major Nuclear Concession
Prediction markets suggest traders remain skeptical that Tehran will make the kind of nuclear concession Washington is seeking.
Polymarket gives just a 6% chance that the U.S. obtains Iran's enriched uranium by Dec. 31. The year-end contract has attracted about $2.4 million in trading volume.
The financial stakes extend beyond diplomacy. Brent crude gained 1.5% Sunday night after Trump rejected Iran's proposal, with disruption around the Strait of Hormuz continuing to pressure global energy markets.
Shares of Exxon Mobil Corp.
